DME Oman Crude Up Over 100% Since Historic Production Cuts

DME Oman Crude Up Over 100% Since Historic Production Cuts

Oman crude oil Benchmark trading on Dubai Mercantile Exchange has doubled in price since the record cuts agreed by the OPEC+ group and other major producers were implemented in time for May loading schedules.. Read more: Reduced Demand For Global Oil Supply May Be Permanent. Middle East prices have also risen faster than those in Europe, with DME Oman trading at nearly $3/b over the Brent North Sea benchmark on Friday.. Read more: 2021 Oil Price Forecast Above $51, Goldman Sachs.